China-India Relations: Shaping the Future
The recent approval of the 15th Five-Year Plan at the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) highlights China's developmental trajectory. Both China and India, as ancient civilizations, are positioning themselves as partners in global development, with China focusing on the great rejuvenation of the nation and India on its 'Viksit Bharat 2047' vision.
China's Achievements and Strategies
- During the 14th Five-Year Plan (2021-2025):
- China's economy averaged a growth rate of 5.5% and is projected to reach approximately $20 trillion.
- Per capita GDP exceeded $13,000 for two consecutive years.
- China ranks among the top 10 in the Global Innovation Index.
- Renewable energy constitutes about 60% of its total installed power generation capacity.
- China is a top trading partner for 157 countries, contributing around 30% to global economic growth.
The success is attributed to the CPC's centralized leadership and effective implementation of five-year plans, aiming to build a modern socialist nation. The 15th Five-Year Plan aims to promote high-quality development and open up cooperation opportunities globally.
Opportunities for China-India Cooperation
- Economic and Trade Cooperation:
- China is a major trading partner for India, with bilateral trade reaching $138.46 billion in 2024.
- From January to October, trade volume increased by 11% year-on-year.
- Indian businesses are encouraged to leverage Chinese platforms such as the Canton Fair and China International Import Expo.
- Industrial Collaboration:
- China excels in manufacturing, infrastructure, and new energy.
- India is strong in IT, software development, and biopharma.
- Collaboration can enhance global industrial and value chain positions.
- Cultural and People-to-People Exchanges:
- Historical exchanges are significant, with popular cultural interests like yoga and Bollywood.
- Resumption of Indian pilgrimages and direct flights fosters mutual understanding.
- Multilateral Cooperation:
- India and China, as part of BRICS, SCO, and G20, can address global issues such as climate change and food security.
- Joint efforts will promote a multipolar world and inclusive economic globalization.
The 75-year-old diplomatic relations between India and China continue to strengthen under strategic leadership, symbolizing stability and progress in Asia and beyond.